Its a little (well, a lot) misleading that they are launching this is a UAV registration initiative... there's not a single question in the registration process about what you fly or how you fly, just your name, address, phone number and credit card number (they'll refund the $5 after registration). You acknowledge that you'll abide by the guidelines that we've all seen, your email address is validated, and you are complete.
They should call it a pilot registration program. Oh, there's a 50-page document that you can find if you look around just to tell you how to display your registration number, complete with case study type of examples from other industries (like prosthetic devices) that demonstrate the value of registration.
Look, I'm not a big fan of it, but I don't see it as a credible challenge to the way I fly, the places I fly, or the responsibility that I would take if my plane lost radio contact and hit someone else's property. Will I place the registration number in all of my planes? Do I display my AMA # in all of my planes? Maybe I'm not the most responsible person on the planet in that regard. I don't see this registration process as a great political platform, just a nuisance that the government is going to push down our throats regardless of what the AMA tries to do. It's a rubber stamp, just like gun registration, that doesn't make the world one bit safer.